VANCOUVER, BC, April 6,
2022 /CNW/ - Pontus Protein Ltd. (TSXV: HULK) (OTCQB:
HLKKF) (FSE: 8YC) ("Pontus" or the "Company")
announces that the Company's principal regulator, the British
Columbia Securities Commission (the "BCSC") has issued a
Cease Trade Order (the "CTO") as a result of the Company's
failure to file its audited annual financial statements for the
year ended December 31, 2021, the related management's
discussion and analysis and officer certifications (collectively,
the "Annual Filings") by March 30, 2022, being the date
that the Annual Filings were due in accordance with National
Instrument 51-102 Continuous Disclosure Requirements.
The cause of the delay is not material to the Company or its
operations.
Management of the Company is currently working expeditiously
with the Company's external auditors to complete the Annual
Filings, which the Company anticipates shall be done shortly. Upon
filing of the Annual Filings, the Company will apply to the BCSC
for a revocation of the CTO and subsequent approval for the
resumption of trading of the Company's common shares. Further
updates will be provided in due course.
A copy of the CTO can be found on the BCSC's website
at: https://www.bcsc.bc.ca/enforcement/early-intervention/cease-trade-orders.
About Pontus Protein Ltd.
This is our future – the future of farming; Pontus Protein Ltd.
is a Vancouver-based agricultural
food and technology company focused on creating and acquiring the
best technology. Highly sophisticated, AI-engineered robots,
combined with our proprietary vertical farming and a commitment to
sustainability. Our intellectual property optimizes efficiency for
a shorter growing time and high productivity. We deliver healthy,
affordable foods and nutrients into every diet in a closed,
controlled environment avoiding all pesticides and GMOs.
Pontus Protein is publicly traded in Canada (TSXV:HULK), the United States (OTCQB: HLKKF) and
Germany (FSE: 8YC) and you can
find out more on our SEDAR profile.
Learn more about Pontus: Website | Investor Page | LinkedIn |
YouTube | Twitter
On behalf of the Board of Directors
"Avtar Dhaliwal"
Avtar Dhaliwal, CEO
Pontus Protein Ltd.
Forward-Looking Information
Certain statements in this release are forward-looking
statements, which reflect management's expectations regarding the
Company. Forward-looking statements consist of statements that are
not purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future, including,
but not limited to, statements relating to Pontus' ability to
revolutionize the plant based sector and enable millions to rethink
their food choices. Such statements are subject to risks and
uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the
statements, including risks related to factors beyond the control
of the Company. These risks include, but are not limited to, the
following: the unknown magnitude and duration of the effects of the
COVID-19 pandemic, the failure of Pontus to receive the necessary
approvals from the Canadian Food Inspection Agency for its products
and facilities, the inability to complete Pontus' Surrey Facility,
as well as other general business, economic, or market related
risks beyond the director control of the Company and which may
affect the Company's business, operations, or products. No
assurance can be given that any of the events anticipated by the
forward-looking statements will occur or, if they do occur, what
benefits the Company will obtain from them. The Company undertakes
no obligation to update forward-looking information if
circumstances or management's estimates or opinions should change,
unless required by law. The reader is cautioned not to place undue
reliance on forward-looking information.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accept responsibility for the adequacy
or accuracy of this release.
SOURCE Pontus Protein Ltd.